Japanese 10Y Yield Rises Above 1% For The First Time Since 2013

Slowly but surely, Japan's bond market is approaching its inevitable disintegration.

With the BOJ caught in an impossible dilemma, where on one hand it is facing soaring inflation and is forced to tighten monetary policy to prop up and push the imploding yen higher in order to avoid social rebellion, while on the other hand, said tightening is pushing bond yields ever higher as the BOJ steps away from being the buyer of first, last and any other resort, a bond market which is majority owned by the same BOJ, this morning Japan's 10-year government bond yield climbed to ...